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Property profile & analytics
OFF-MARKET
Estimated value
$30,415,000
Distribution centers
851 34th St, Renton, WA 98057-4815
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-3262318
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
171,710 SF
Lot
6.72 ac (292,581 SF)
Zoning code
IL
APN
125381-0270
UPID
US90-3262318
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$29.04M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$30.42M
Owner & transaction history
Gwl Direct 851 Sw 34th LLC · 5 yrs held
Gwl Direct 851 Sw 34th LLC
since 2020
Last sale
$29.5M
7 recorded transactions
Zoning & alternative use
IL · Renton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Renton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Renton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$33,615,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$31,455,000
6.5%
$29,035,000
7%
$26,960,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$48,510,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$30.42M
Range $27.37M – $33.46M · ±10% · vs last sale $29.50M (Aug 7 2020)
Last sale anchor
$29.50M
Aug 7 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$177 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$316,453
Tax year 2022
Assessed value
$31,909,300
Assessed 2022
Previous assessed
$31,909,300
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$3,364,600
Assessed improvement
$28,544,700
Land market value
$3,364,600
Improvement market value
$28,544,700
Total market value
$31,909,300
Applied tax rate
2,100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
171,710 SF
Lot
6.72 ac (292,581 SF)
Zoning code
IL
APN
125381-0270
UPID
US90-3262318
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IL · Renton, WA
Zoning IL · permitted uses
IL · Renton, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Renton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$48.5M
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
6.72 ac
Current owner
From public records · entity-resolved
Gwl Direct 851 Sw 34th LLC
Entity
Mailing address
1099 18TH ST STE #2900, DENVER, CO 80202-1929
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2020
$29,500,000
Gwl Direct 851 Sw 34th LLC
Adventure 95 Holdings LLC
Grant Deed
—
Aug 17, 2016
—
Adventure 95 Holdings LLC
—
Deed
related
$4,227,473 · Sp Holdings INC
Jan 19, 2007
$7,271,100
Adventure 95 Holdings LLC
Adventure 95
Warranty Deed
—
Feb 16, 1996
—
Adventure 95 LP
Younger,jennifer
Quit Claim Deed
related
$4,400,000 · Us Bank Of Washington
Aug 1, 1995
$1,300,000
Gordon Younger
Okeefe LLC
Grant Deed
—
May 3, 1995
$1,024,033
Okeefe LLC
Trillium Corp
Grant Deed
$5,154,472 · Commercial Real Estate Co
—
—
Adventure 95 Holdings LLC
—
Deed Of Trust
related
$4,600,000 · Commerce Bk/wa
—
—
Adventure 95 LP
—
Deed Of Trust
related
$7,250,000 · Prudential Insurance Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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